Fiduciary Trust Co. trimmed its stake in Novartis AG (NYSE:NVS) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,280 shares of the company’s stock after selling 4,932 shares during the period. Fiduciary Trust Co.’s holdings in Novartis AG were worth $10,541,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of NVS. Primecap Management Co. CA raised its stake in shares of Novartis AG by 2.1% in the first quarter. Primecap Management Co. CA now owns 21,693,804 shares of the company’s stock worth $1,611,199,000 after acquiring an additional 446,976 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Novartis AG by 12.2% during the 1st quarter. Wells Fargo & Company MN now owns 9,100,801 shares of the company’s stock worth $675,917,000 after buying an additional 988,301 shares during the period. Parnassus Investments CA grew its position in shares of Novartis AG by 89.4% during the 1st quarter. Parnassus Investments CA now owns 8,173,974 shares of the company’s stock worth $593,720,000 after buying an additional 3,858,632 shares during the period. Bank of America Corp DE grew its position in shares of Novartis AG by 7.5% during the 1st quarter. Bank of America Corp DE now owns 7,328,730 shares of the company’s stock worth $544,304,000 after buying an additional 508,435 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Novartis AG by 6.3% during the 2nd quarter. Fisher Asset Management LLC now owns 6,505,935 shares of the company’s stock worth $543,050,000 after buying an additional 384,262 shares during the period. Institutional investors and hedge funds own 10.98% of the company’s stock.
Novartis AG (NVS) traded down 0.29% during trading on Friday, hitting $85.58. 1,933,504 shares of the company traded hands. The stock has a 50 day moving average price of $84.27 and a 200 day moving average price of $80.30. Novartis AG has a 12-month low of $66.93 and a 12-month high of $86.90. The company has a market capitalization of $200.50 billion, a P/E ratio of 31.24 and a beta of 0.74.
Novartis AG (NYSE:NVS) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. On average, equities analysts anticipate that Novartis AG will post $4.75 earnings per share for the current year.
A number of research analysts recently issued reports on NVS shares. Zacks Investment Research cut shares of Novartis AG from a “hold” rating to a “sell” rating in a report on Monday, July 10th. BidaskClub upgraded shares of Novartis AG from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Novartis AG in a research report on Thursday, June 8th. Morgan Stanley raised shares of Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. Finally, Cowen and Company set a $77.00 price objective on shares of Novartis AG and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $83.56.
In related news, major shareholder Bioventures Ltd Novartis bought 266,667 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $4,000,005.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.01% of the stock is currently owned by insiders.
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Novartis AG Company Profile
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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